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State of Video Marketing 2017

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In its fourth year, this report on video marketing metrics highlights best practices including video hosting to how video viewing integrates with the sales funnel.

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State of Video Marketing 2017

  1. 1. the state of VIDEO MARKETING 2017 Benchmark Study Report November 2017
  2. 2. Table of Contents 38 37 35 31 28 23 20 15 7 5 3 the state of VIDEO MARKETING 2017
  3. 3. Introduction
  4. 4. 4INTRODUCTION THE STATE OF VIDEO MARKETING 2017 Marketers need little convincing these days that video is a powerful content form. By every measure – conversion, SERP ranking, time on page, likes, shares and any other form of engagement – video’s power to inform and persuade is unmatched. Pundits project that this year, 69 percent of all web traffic will be video, a clear indicator of the demand for this content form. The barriers to using video have fallen as this content type has evolved. Just over a decade ago, video production required expensive cameras, studios and software editing suites. Today, however, about 70 percent of U.S. and Canadian adults carry with them the tools for video production, right in their pocket. In the past decade, the cost and skills needed to produce video has gone down, while the quality and convenience has improved. Video content also benefits tremendously from the social media networks that serve as distribution channels. This study, now in its fourth year, continues to examine how marketers are using video, the new approaches, tools and applications they are using and what kind of results they are getting. The data is clear: video is a content form that remains fresh and engaging. As this report details the findings from the 2017 Video Content Marketing Benchmark Study, it will identify best practices and recommendations to help marketers get the best return on their investment in video content.
  5. 5. Executive Summary
  6. 6. 6EXECUTIVE SUMMARY THE STATE OF VIDEO MARKETING 2017 Over 70 percent of this study’s participants were in marketing roles in B2B or mixed B2B/B2C organizations that reported revenue growth in the most recently completed fiscal year. All of the organizations that partici- pated in this study are using video to some degree in their marketing efforts. Agencies and studios were disqualified from contributing to the study. Key Findings For the fourth consecutive year, over 90 percent of study participants report that the video is becoming more important as a form of marketing content. The volume of videos produced annually has increased year- to-year, from an estimated average of 29 in 2016 to 38 in this year’s study. The use of video in places like websites, social media, landing pages and sales conversations has increased year-over-year. Product videos are the most common type of video, produced by 63 percent of organizations in this study. More study participants are using metrics to track video content effectiveness, with only 13 percent reporting that no metrics are in use, compared to 23 percent in 2016. However, the use of advanced metrics has remained flat over all study years. The percentage of organizations that have integrated video viewing data—and are exploiting it—with key sales and marketing systems jumped from 13 to 20 percent. Usage of video viewing data by members of the sales team, to qualify, engage or influence deals, is up 13 percent year-over-year. There has been a two-fold increase in the number of people who use video with the execution of their Account-Based Marketing (ABM) strategy. Video marketing budgets have stayed the same or grown for 90 percent of study participants. This report details the results and insights from the analysis of the study data. For more detail on the survey participants, please refer to the Appendix.
  7. 7. The Importance of Video
  8. 8. 8THE IMPORTANCE OF VIDEO THE STATE OF VIDEO MARKETING 2017 The importance of video as a form of marketing content continues to grow for almost all study participants. The year-in-year-out consistency of video content importance is shown in Figure 1. These figures represent an endorsement of video content from marketing professionals. In this digital age where new content forms are born, live, and fall from favor in months, the consistency of video content perfor- mance across each year of the study is remarkable. Less Important More Important Not changing 2015 2015 2014 2014 2016 2016 2017 2017 Almost all study participants report that video content is becoming more important. Production figures for video rose again in 2017. The Changing Importance of Video as Marketing Content Marketing Videos Produced Annually figure 1 figure 2 2% 6% 2% 6% 1% 8% 0% More than 100 5% 11 to 50 8% 9% 8% 10% 11% 8% 10% 5% 95% 91% 92% 92% Less Than 55 to 1051 to 100 Video production numbers can also provide insights into the value of video content. Organizations will not invest in content that is perceived as ineffective. The study tracks annual video production quantity, and Figure 2 shows this year-to-year comparison. In last year’s study, 53 percent of study participants produced 11 or more videos annually. This year the figure has risen to 59 percent. Looking at the way the production data in Figure 2 is distributed, in 2016 the average number of videos produced annually was in the lower end of the 11 to 50 video range, or about 29 videos. For 2017, the average falls in the upper half of this same range, for an estimated 38 videos annually. 32% 26% 26% 27% 29% 26% 25% 35% 18% 15% 41% 31%
  9. 9. 9THE IMPORTANCE OF VIDEO THE STATE OF VIDEO MARKETING 2017 In past studies, differences in the volume of videos produced based on company size were pronounced: overall, small companies produced fewer videos. Table 1 shows the percentage of study respondents that produced fewer than five videos annually, by company size. As recently as 2015, more than one-third of small companies were producing less than five videos annually, and the gap between small and large companies was 30 percent. In the current study, just one in five small companies are producing less than five videos annually, and the gap is now in the single-digit range. This data suggests that the cost and tools for production is putting video within easy reach of even the smallest companies. Highly accessible tools, like the Vidyard GoVideo plugin, are making video very simple to create and distribute. The video production gap has narrowed considerably. table 1 Company size (Annual Revenue) Percent Producing Less than 5 Videos Annually 2014 2015 2016 2017 Small ($25 million or less) 27% 35% 38% 20% Medium ($26 - $499 million) 28% 11% 25% 10% Large ($500 million+) 6% 5% 17% 12% 88% 1 in 5 of large companies are currently producing more than 5 videos annually small companies are producing less than five videos annually
  10. 10. One thing that makes video a favored marketing content form is the ability to use it in many ways and places. Figure 3 summarizes where study participants are using video content. Websites and social media (including blogs) continue to lead as top loca- tions for marketers to use video content, and usage is up across the board year-to-year, as shown in Figure 3. 10THE IMPORTANCE OF VIDEO THE STATE OF VIDEO MARKETING 2017 2015 2016 2017 Usage of video has increased in each area. * Added for 2017 study Where Video Content is Used figure 3 Website Social Media Landing Pages Sales Conversation Recorded Webinars Other 86% 77% 64% 60% 40% 46% 37% 3% 81% 40%43% 5% 22% 76% 53% 78% 39% 36%49% 8% 25% 72% YouTube* Emails
  11. 11. Usage patterns show some differences when this data is segmented by company size, as shown in Table 2. It is curious that large companies show much less usage of video in email marketing efforts, at less than half the usage level compared to small and medium-sized companies. This data likely reflects concerns about the effectiveness of traditional email marketing, and suggests that large companies are looking for better approaches and/or new ways to boost engagement in email marketing. That better way may be using video within email marketing and other channels. Ultimately, marketers need approaches and content that convert well, and the growth of video across locations offers another endorsement of its effectiveness. The next section of this report will examine the conversion performance of video in more detail. 11THE IMPORTANCE OF VIDEO THE STATE OF VIDEO MARKETING 2017 The biggest differences in usage are for email and landing pages. table 2 Where Video is Used Company Size Small Medium Large Website 83% 92% 85% Social media 79% 77% 71% YouTube 55% 75% 68% Landing pages 49% 75% 62% Recorded webinars 44% 52% 53% Emails 52% 52% 24% Sales conversations 38% 31% 44% Website 24% is the most common place for video usage across all company sizes of large companies in study use video marketing in emails
  12. 12. The study also inventoried the types of videos that marketers create and deploy, which Figure 4 summarizes for the current study year compared to past studies. 12THE IMPORTANCE OF VIDEO THE STATE OF VIDEO MARKETING 2017 Product videos Webinars*Demos How-to / Educational Videos Cultural Videos Explainer Videos Customer Videos Vlogs*Social Media Videos* Live Streams One-to-One* Chalk Talks* Product videos are the most common type. Types of Videos figure 4 63% 59% 54% 38% 45% 42% 37% 7%12%13%23%24% 51% 28% 23% 20% 7% 59% 45% 44% 2015 2016 2017 * Added for 2017 study 20% 7% 59% 59% 43%
  13. 13. The top three types of videos in use by place of use. table 3 Since the 2016 study, Product videos have eclipsed Demo and Explainer videos as the most common type produced. Where videos are used (Figure 3) and which types of videos are in use (Figure 4) are correlated. This relationship is illustrated in Table 3. 13THE IMPORTANCE OF VIDEO THE STATE OF VIDEO MARKETING 2017 Landing Pages Emails Website Social Media YouTube Recorded webinar Sales conversations Product (74%) Demos (64%) Product (63%) Product (67%) Product (74%) Webinars (80%) Demos (75%) Demos (65%) Product (58%) Demos (60%) Demos (60%) Demos (59%) Demos (66%) Product (64%) Explainer (59%) Explainer (55%) Explainer (56%) Explainer (57%) Explainer (57%) Explainer (65%) Explainer (61%)
  14. 14. For most use cases, “Product” videos see the greatest use. The gap between the trifecta of Product, Demo and Explainer videos, however, is narrow. Some subtle shifts in the types of videos produced occurs as the production volume increases. These shifts are shown in Table 4. Increased volume of video production doesn’t create more variety in the mix of videos produced until the number of videos produced annually crosses the more-than-fifty threshold, at which point customer videos begin to make an appearance in this ranking. 14THE IMPORTANCE OF VIDEO THE STATE OF VIDEO MARKETING 2017 Top three video types produced by annual production volume. table 4 Rank Number of Videos Produced Annually Less than 5 5 to 10 11 to 50 More than 50 1 Product Product Explainer Demos (tie) Product 2 Explainer Demos Product Explainer Demos (tie) 3 Explainer Demos (tie) Explainer How-to CustomerProduct videos are the most used across all cases How-to videos rank 3rd at companies producing 11 to 50 videos annually
  16. 16. 16THE PERFORMANCE OF VIDEO THE STATE OF VIDEO MARKETING 2017 Marketers love to see their content go viral, but viral videos are a rela- tively rare occurrence and not necessary to produce excellent results. Getting a wide audience for a video is certainly desirable, but the goal of any marketing content is to gain conversions: getting those exposed to the content to take the desired action, whatever action that may be. Figure 5 shows the current conversion performance of video compared to other types of content. The conversion performance of video compared to other content types remains strong. Over the four years of this study, the percentage of participants that report video converts somewhat or much better than other content types has averaged 71 percent. Video remains a favored content type for marketers looking to engage their audience. 70 percent of study participants report that video converts better than other forms of content. * Added for 2017 study Conversion Performance of Video figure 5 20152014 2016 2017 Much better 6% 6% 4% 2% Somewhat better Somewhat worse 23% 23% 22% 26% 20% 19% 16% 27% Much worse 0% 0% 0% 1% About the same 52% 48% 54% 51%
  17. 17. 17THE PERFORMANCE OF VIDEO THE STATE OF VIDEO MARKETING 2017 From a marketing perspective, having content that produces conver- sions is the path to generating revenue, and ultimately, a measurable return-on-investment (ROI). Each year of this study has collected data about the relative ROI movement of video: is it getting better, staying the same or declining? Figure 6 displays this data. The most troubling insight that Figure 6 reveals is that 28 percent of study participants do not know the ROI of their video marketing efforts. It is possible to determine the ROI of video by measuring how it is consumed by leads in the sales pipeline, and this measurement is enabled by inte- gratingvideoconsumptiondatawithCRMorMarketingAutomationsystems. This integration status and its implications for ROI are explored fully in an upcoming section of this report. The relationship between conversion performance and ROI, however, is simple and intuitive: study participants that report video converts better are seeing a correspondingly higher ROI. 20152014 2016 2017 ROI of video marketing shifted slightly in the current study year. How is the ROI of Video Changing? figure 6 Getting Better Staying the Same UnknownDeclining 44% 27% 27% 26% 26%25% 22% 23% 28% 1% 1% 1% 2% 49% 50% 48% 27% 44% of companies in study maintained their ROI in 2017 of companies in study are improving their ROI in 2017
  18. 18. 18THE PERFORMANCE OF VIDEO THE STATE OF VIDEO MARKETING 2017 In order to understand how video converts and how to calculate its ROI, this study measures three categories of video content effectiveness metrics: The most mature video marketers use advanced metrics to link the content source to the revenue it influenced. Figure 7 summarizes video metrics usage for all study years. 20152014 2016 2017 The usage rate of advanced metrics is flat for all study years. Video Content Effectiveness Measures in Use figure 7 Advanced Intermediate NoneBasic 13% 13% 51%23% 14% 14% 48%24% 14% 14% 49% 23% 14% 42% 23%21% 1. Basic Measures of consumption such as views or shares. These are relatively easy to capture. However, they don’t allow for determination of ROI, nor do they provide indicators of engagement. For these reasons, their usefulness is limited. 2. Intermediate Basic measures of engagement, such as average viewing duration. With intermediate metrics, insights into video viewing behavior begin to emerge. 3. Advanced Include views by embed location, viewer drop-off rates, viewing heat maps or attribution to sales pipeline. With these metrics, precise determinations are possible regarding revenue impact and ROI.
  19. 19. 19THE PERFORMANCE OF VIDEO THE STATE OF VIDEO MARKETING 2017 While the segment of those who are using advanced metrics is compar- atively small, the ROI impact related to advanced video metrics usage is immense. Figure 8 compares the reported ROI for each metrics usage category. There are some important points to make from the data presented in Figure 8: A true and accurate measurement of the ROI of video (or any type of content) requires the adoption and use of advanced metrics. When advanced metrics are not in use, ROI determina- tion is an estimate at best. When advanced metrics are in use, marketers have the infor- mation they need about video content performance to achieve even better results. The best way to capture and exploit advanced metrics is to integrate video viewing data into Marketing Automation and/or CRM systems. 1 3 2 The use of advanced metrics is a prerequisite to achieving the greatest impact and highest ROI from video marketing efforts. The use of advanced metrics has a big effect on ROI. % Reporting Video ROI is Much Better figure 8 No metrics in use 5% Basic metrics 16% Intermediate metrics 22% Advanced metrics 71%
  20. 20. Video Viewing Data Integration
  21. 21. Integrating video viewing data into Marketing Automation and/or CRM platforms enables the tracking and usage of advanced metrics. This inte- gration provides other benefits as well. Figure 9 shows the status of this integration from each year of this study. It appears that the study participants from 2016’s study that indicated plans to integrate this data had more than just good intentions—they acted. 21VIDEO VIEWING DATA INTEGRATION THE STATE OF VIDEO MARKETING 2017 The data in Figure 9 reveals some encouraging trends: A significant increase in the population of marketers who have integrated video viewing data—and are using it! One in five marketers in this study fall into this category. The overall level of integration of video viewing data, regardless of whether it is in use, has climbed 15 percentage points, from 30 percent in 2016 to 45 percent today. 1 2 20152014 2016 2017 This year’s study participants report a healthy increase in the integration and use of video viewing data with key sales and marketing systems. Integration Status of Video Viewing Data figure 9 Integrated and exploiting the data Integrated but not exploiting the data Planning to integrate within 12 months Planning to integrate sometime No plans to integrate 20% 20% 20% 21%25% 25% 23% 22% 26% 26%30% 29% 13% 9% 15% 15% 15% 14% 16% 17%
  22. 22. d n The ROI that study participants report for their video marketing efforts correlates to their integration status. Figure 10 compares the ROI when there is no integration to when integration and exploitation of video viewing data exists. This comparison makes a compelling business case for integrating video viewing data with Marketing Automation and CRM systems: those who have done so are almost twice as likely to also report that their video ROI is getting better. 22VIDEO VIEWING DATA INTEGRATION THE STATE OF VIDEO MARKETING 2017 The higher integration levels seen in this year’s study are reflected in the way members of the sales team are using this data, which is summarized in Figure 11. Over two-thirds of study participants indicated that it is important for the sales team to have access to customer and prospect video viewing data. Figure 11 shows that sales team are getting value from using this data, with an increase in all levels of use from 50 percent in 2016 to 61 percent this year. This usage is no doubt enabled by the higher levels of integration shown in Figure 9. Integrating video viewing data into sales and marketing systems has a major effect on ROI. Integration of Video Viewing Data & ROI figure 10 20152014 2016 2017 Overall usage of video viewing data by the sale team is up year-to-year. Sales Use of Viewing Data to Qualify, Engage or Influence Deals figure 11 To a great extent 7% 6% 6% 6% 8% 11% 11% 10% I don’t know To a slight extent 18% 18% 23% 22% To some extent 21% 24% 36% 32% To no extent 34% 39% 37% 31% Integration and data exploitation 67% No integration 31% ROI of Video is Getting Better
  23. 23. Producing & Hosting Video Content
  24. 24. 24PRODUCING & HOSTING VIDEO CONTENT THE STATE OF VIDEO MARKETING 2017 This year, the study continues to look at who is creating, or commis- sioning the creation of video content, and where it is hosted. Figure 12 shows the personas within the organizations that participated in this study that are creating video. With content marketing strategy and execution traditionally belonging to marketing, these results are not surprising. The sales organization shows the biggest year-to-year increase, and all functions represented show an increase, with the exception of the internal communications team. 2016 2017 Marketing creates the lion’s share of video content. Who is Creating Video figure 12 Executive team HR teamInternal communications team Marketing team 90% 23% 17% 19% 15% 11% 11% 11%15% 15% 14% 9% 8% 86% Support team OthersSales team
  25. 25. Figure 13 shows where organizations in the study are hosting and managing their video content. It’s easy to understand the allure of free platforms. But marketers need to make decisions about where to host video based on more than cost. They must also consider how various hosting platforms allow them to best manage their brands and control the viewing experience. Marketers need to fully understand the implications of their hosting choices. 25PRODUCING & HOSTING VIDEO CONTENT THE STATE OF VIDEO MARKETING 2017 The ease of producing quality video content has improved dramatically over the life of this study. Not so long ago, the requisite skills and exper- tise were often not found within many marketing departments. Today, most organizations create video using a blend of internal and external resources, such as agencies, studios, freelancers or contract employees. Figure 14 shows this spectrum of resource usage for video creation. Twice as many organizations create video entirely in-house as compared to those that completely outsource it. Most organizations blend external resources with internal ones to create their videos, and on average, the division of responsibility is almost even, slightly favoring the use of internal resources. Free platform External resources for MOST External resources ALL video creation Even blend internal and external Business platform Internal resources of MOST Internal resources for ALL video creation Both 55% 22% 7% 25% 24% 30% 16% 21% More than half of study participants only host on free platforms. Few organizations completely outsource video creation. Video Hosting & Management Platforms Usage Resources for Video Creation figure 13 figure 14
  26. 26. Companies use and blend resources to create videos differently depending on the size of the company. Table 5 shows these differences. Small companies rely most heavily on internal resources, while large companies rely most heavily on a blend of external and internal resources. 26PRODUCING & HOSTING VIDEO CONTENT THE STATE OF VIDEO MARKETING 2017 The features and functions available for use in creating marketing video have expanded tremendously. For the first time, this study catalogs their usage in Figure 15. Video production resources by company size table 5 Small companies (less than $25 million in annual revenue) Medium companies ($25 to $499 million in annual revenue) Large companies ($500 million or more in annual revenue) External resources for most or all video creation 24% 35% 29% Even blend of internal & external resources 22% 15% 47% Internal resources for most or all video creation 54% 50% 24% The majority do not use most of these functions with video. % Reporting Video ROI is Much Better figure 15 Video performance analytics 59% Access control for private/secure content Channel performance analytics Individual viewer engagement Centralized video content management Group or role-based administration of content Custom CTAs at end of video Synchronization of viewer engagement data to Mktg Automation or CRM Interactive video content with embedded forms or annotations Video content personalization 43% 42% 42% 40% 33% 31% 28% 26% 21%
  27. 27. Many of these features help shift the video viewing experience from a passive to an active one, and as a later section of this report will discuss, they help drive satisfaction with the use of video content. For clarity, some of these features are defined in more detail below: Video performance analytics: views, drop-off rate, etc. Channel performance: views by channel Individual viewer engagement: tracking views and engagement of each individual As ABM becomes a mainstream B2B marketing strategy, the use of video to facilitate the strategy has doubled since last year’s study, growing from 8 percent to 16 percent of organizations that are using video to any degree with ABM. Those who plan to use video with ABM have also nearly doubled in the past year. 27PRODUCING & HOSTING VIDEO CONTENT THE STATE OF VIDEO MARKETING 2017 2016 2017 Video usage and plans for usage with ABM have increased year-to-year. Video Functionality Usage figure 16 ABM with plans to use video Don’t use ABMABM with video in minor role ABM with video in major role 11% 13% 16% 25%15% 44% 46% 3% 3% 4%1% 7% 6% 6% ABM, but no video I don’t knowABM with video in moderate role In the 2016 study, participants were asked to share their usage status of the Account-Based Marketing (ABM) strategy and, if they were using ABM, the degree to which video content played a role. Figure 16 updates this usage data for 2017.
  28. 28. Video Content Budget
  29. 29. 29VIDEO CONTENT BUDGET THE STATE OF VIDEO MARKETING 2017 Marketing budgets reflect the organization’s priorities, and the way initiatives are funded is perhaps the truest indicator of their perceived value. Figure 17 summarizes video content budget growth for all years of the study. Video content budgets are increasing for over half of the study partic- ipants, although not at the rate of previous years. However, the annual volume of videos produced shown in Figure 2 is increasing, implying that marketers are able to increase production without increasing costs. 20152014 2016 2017 Video content budgets are staying the same or growing for well over 90 percent of the organizations in this study. Video Content Budget figure 17 Significantly decreasing 0% 0% 1% 1% 2% 2% 4% 5% 6% Significantly increasingStaying the same 28% 29% 37% 38% 16% 13% 20% Slightly decreasing Slightly increasing 53% 49% 50% 46% 6% 56% of companies in study are decreasing video content budget in 2017 of companies in study are increasing video content budget in 2017
  30. 30. Budgets, ROI, and conversion performance are all correlated. Figure 18 shows what this correlation looks like. Though it is a bit of a chicken-and-egg dilemma to determine whether higher funding for video content performance produces better ROI and conversion performance, or if the ROI and conversion performance make the business case for higher funding, it is most likely the latter case. Whichever one is true, however, the link between budgets, ROI and conversion performance is firmly established in the study data. Higher video content marketing budgets are related to better ROI and conversion. Video Budgets and ROI, Conversion Performance figure 18 % ROI is getting better % Conversions performance is better Budget flat or decreasing Budget increasing 75%57% 63%27% 30VIDEO CONTENT BUDGET THE STATE OF VIDEO MARKETING 2017
  31. 31. Satisfaction with Video Marketing Results
  32. 32. Dissatisfied Very dissatisfied Neutral Satisfied Very satisfied 8% 2% 31% 55% 4% This study has not looked at overall satisfaction with the results of video marketing efforts until this year. Figure 19 shows how this year’s study participants rated their satisfaction. 32SATISFACTION WITH VIDEO MARKETING RESULTS THE STATE OF VIDEO MARKETING 2017 Just 10 percent of study participants are dissatisfied with the results of their video marketing efforts. Satisfaction with Video Marketing Results figure 19 10% 59% of companies in study are dissatisfied with video marketing results of companies in study are satisfied or very satisfied with video marketing results
  33. 33. 33SATISFACTION WITH VIDEO MARKETING RESULTS THE STATE OF VIDEO MARKETING 2017 The use of certain kinds of metrics from Figure 8 to measure the effec- tiveness of video content, also correlates to satisfaction. Figure 21 shows this relationship. The use of advanced metrics drives satisfaction significantly higher. Satisfaction & Metrics Usage figure 21 No metrics in use 29% Basic metrics 57% Intermediate metrics 67% Advanced metrics 86% % Satisfied or Very Satisfied It is important to keep in mind that satisfaction is an outcome, and with this data now part of the study, it became possible to identify some of the drivers of satisfaction. One of the correlations to satisfaction is the annual volume of videos produced by study participants. Figure 20 shows how satisfaction increases with the volume of videos produced. Satisfaction increases as video production volumes increase. Satisfaction & Annual Video Production Volume figure 20 Less than 5 33% 5 to 10 51% 11 to 50 68% More than 50 72% % Satisfied or Very Satisfied
  34. 34. The adoption of some of the features and functions shown in Figure 15 also correlate to higher satisfaction with video marketing results. Figure 22 shows the difference in satisfaction for these features/functions when they are versus when they are not in use. The use of any one of these video features/functions has the ability to drive satisfaction with video marketing results higher. The satisfaction gap between those who use them and those who do not is substantial, averaging 29 percentage points. 34SATISFACTION WITH VIDEO MARKETING RESULTS THE STATE OF VIDEO MARKETING 2017 These video features/functions are major drivers of higher satisfaction with video. Satisfaction & Video Feature/Function Usage figure 22 Interactive video content w/ embedded forms or annotations 50% 51%45%39% 39% 35% 71% 71% 71% 71%73%75% Group or role-based administration of content Centralized video content management Video performance analytics Video content personalization Access control for private/secure content Satisfaction when using Satisfaction when not using
  35. 35. Analyst Bottom Line
  36. 36. As a content form, video remains as important as ever, and this importance is reflected in increased usage, both in terms of volume produced and places where video is used. This year’s study rein- forces many of the best practices identified in past years, while introducing some new ones. Marketers that want to leverage video in the most effective way and produce the highest possible return should implement the following recommendations: Most marketers long ago recognized the potential and value of video content. By implementing these recommendations, marketers can take their video marketing efforts to the next level of effectiveness. 36ANALYST BOTTOM LINE THE STATE OF VIDEO MARKETING 2017 Track advanced metrics. There’s no getting away from the fact that advanced metrics are the only ones that can accurately tell marketers the revenue impact any of their content is having, and video is no exception. Views by embed location, viewer drop-off rates, and attribution to sales pipeline are all examples of advanced metrics that marketers should track for video content. How can marketers do this? See the next recommendation… Integrate video viewing data. This integration facili- tates the tracking of advanced metrics, and marketers reported gains in the integration of viewing data with Marketing Automation and/or CRM systems in this year’s study. This is important because when this data is stored in sales and marketing systems, the viewing data becomes easy to access and use in order to gain insights about leads in the pipeline. Pump up the volume. Heavier users of video are getting better ROI from their use and are more satis- fied with the results they are getting. Greater video volume seems to be better where marketing with this content form is concerned. Marketers that have so far just dipped their toes in the video marketing pool should consider plunging in. Use advanced features and functions. All of the video marketing features and functions identified in Figure 15 have benefits, and many of them also drive higher satisfaction. Marketers need to make the inclu- sion of these features and functions a standard part of their production process. Many of these feature and functions are only available through the use of a video platform for business. Analyst Bottom Line
  37. 37. Acknowledgements 37ACKNOWLEDGEMENTS THE STATE OF VIDEO MARKETING 2017 Vidyard is the video platform for business that helps organiza- tions drive more revenue through the use of online video. Going beyond video hosting and management, Vidyard helps busi- nesses drive greater engagement in their video content, track the viewing activities of each individual viewer, and turn those views into action. Global leaders such as Honeywell, McKesson, Lenovo, LinkedIn, Citibank, MongoDB and Sharp rely on Vidyard to power their video content strategies and turn viewers into customers. Demand Metric is a marketing research and advisory firm serving a membership community of over 100,000 marketing profes- sionals and consultants in 75 countries. Offering consulting playbooks, advisory services, and 500+ premium marketing tools and templates, Demand Metric resources and expertise help the marketing community plan more efficiently and effectively, answer the difficult questions about their work with authority and conviction, and complete marketing projects more quickly and with greater confidence — thus boosting the respect of the marketing team and making it easier to justify resources the team needs to succeed. To learn more about Demand Metric, please visit www.demandmetric.com
  38. 38. Appendix: Survey Background 38ACKNOWLEDGEMENTS THE STATE OF VIDEO MARKETING 2017 This 2017 Video Content Marketing Metrics Benchmark Study survey was administered online during the period of October 5 through October 28, 2017. During this period, 159 complete responses were collected and used in the analysis of the data for this report. The representativeness of these results depends on the similarity of the sample to environments in which this survey data is used for comparison or guidance. Summarized below is the basic categorization data collected about respondents to enable filtering and analysis of the data: Type of organization: Mostly or entirely B2B 57 percent Mostly or entirely B2C 15 percent Blend of B2B/B2C 28 percent Primary role of respondent: President, CEO or owner 7 percent Marketing 75 percent Sales 5 percent IT 6 percent Other 7 percent Annual sales: Less than $10 million 32 percent $10 to $24 million 16 percent $25 to $99 million 16 percent $100 to $499 million 14 percent $500 to $999 million 5 percent $1 billion or more 16 percent Revenue growth environment in most recent fiscal year: Significant increase 21 percent Modest increase 51 percent Flat 17 percent Modest decline 10 percent Significant decline 1 percent
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